Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister (EAC-PM), said at WION’s World Pulse summit on Wednesday (Mar 18) that the global economic order is undergoing a major transformation, with supply chains moving towards resilience and self-reliance. He also responded to a question on trust and geo-economics in the current global environment.Sanyal was asked at WION’s World PULSE, "A lot of conversation around Geo-economics and kind of world we are living, kind of problem we are grappling with. In a trusted partnership, do we trust each other?"He responded: "The global system, which was built in a certain architecture since the early 1990s, has clearly come to an end, there is no doubt about it. The global supply chain was built on the idea of 'just in time' efficacy. Now we are being re-configured towards a “just-in-case” approach. And that revival of the interest in the idea of resilient means that we have to think about, by the way we have been saying for India for some time, that we should strive for aatmanirbhar (self-reliance), especially in critical sectors. Wherever possible, we should aim to achieve self-reliance. While this may not be feasible for smaller countries like Singapore, a country of India’s size should try to do so in as many areas as possible."Also read: <a href="https://www.wionews.com/india-news/-businesses-can-be-built-without-balance-sheet-nse-chief-ashish-kumar-chauhan-at-wion-world-pulse-1773816091249">'Businesses can be built without balance sheet': NSE Chief Ashish Kumar Chauhan at WION World Pulse</a><h3>India's multi-alignment approach</h3>Sanyal emphasised the multi-alignment approach with different sources. He added that India has diversified its energy sources, including imports from Russia. The attitude towards the Gulf region in the recent developments shows that India’s diplomacy has been quite effective, he added."In areas where aatmanirbhar (self-reliance), we need a multi-alignment approach with multiple sources and partners. This is quite different from how we used to think about the world earlier. This shift in thinking began even before the COVID-19 crisis in 2019, but the pandemic accelerated it significantly, making the need for resilience more obvious. We are now seeing this play out, particularly in the energy sector.&nbsp;"India has diversified its energy sources, including imports from Russia. Even within the Gulf, we have seen in the last few weeks that India's diplomacy has been able to extract our own ships. So this kind of attitude we have towards supply chain is playing out well for us, and given the circumstances, we are doing OK," he said.Sanyal highlighted the evolving global economic landscape, where countries are increasingly prioritising resilience, diversification, and strategic autonomy in response to ongoing geopolitical and economic uncertainties.

Sanjeev Sanyal emphasised the multi-alignment approach with different sources. He added that India has diversified its energy sources, including imports from Russia, and the attitude towards the Gulf region in the recent developments shows that India’s diplomacy has been quite effective.

Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister (EAC-PM), said at WION’s World Pulse summit on Wednesday (Mar 18) that the global economic order is undergoing a major transformation, with supply chains moving towards resilience and self-reliance. He also responded to a question on trust and geo-economics in the current global environment. Sanyal was asked at WION’s World PULSE, "A lot of conversation around Geo-economics and kind of world we are living, kind of problem we are grappling with. In a trusted partnership, do we trust each other?" He responded: "The global system, which was built in a certain architecture since the early 1990s, has clearly come to an end, there is no doubt about it. The global supply chain was built on the idea of 'just in time' efficacy. Now we are being re-configured towards a “just-in-case” approach. And that revival of the interest in the idea of resilient means that we have to think about, by the way we have been saying for India for some time, that we should strive for aatmanirbhar (self-reliance), especially in critical sectors. Wherever possible, we should aim to achieve self-reliance. While this may not be feasible for smaller countries like Singapore, a country of India’s size should try to do so in as many areas as possible." Also read: 'Businesses can be built without balance sheet': NSE Chief Ashish Kumar Chauhan at WION World Pulse India's multi-alignment approach Sanyal emphasised the multi-alignment approach with different sources. He added that India has diversified its energy sources, including imports from Russia. The attitude towards the Gulf region in the recent developments shows that India’s diplomacy has been quite effective, he added. "In areas where aatmanirbhar (self-reliance), we need a multi-alignment approach with multiple sources and partners. This is quite different from how we used to think about the world earlier. This shift in thinking began even before the COVID-19 crisis in 2019, but the pandemic accelerated it significantly, making the need for resilience more obvious. We are now seeing this play out, particularly in the energy sector. "India has diversified its energy sources, including imports from Russia. Even within the Gulf, we have seen in the last few weeks that India's diplomacy has been able to extract our own ships. So this kind of attitude we have towards supply chain is playing out well for us, and given the circumstances, we are doing OK," he said. Sanyal highlighted the evolving global economic landscape, where countries are increasingly prioritising resilience, diversification, and strategic autonomy in response to ongoing geopolitical and economic uncertainties.

Sanjeev Sanyal emphasised the multi-alignment approach with different sources. He added that India has diversified its energy sources, including imports from Russia, and the attitude towards the Gulf region in the recent developments shows that India’s diplomacy has been quite effective.

WION World Pulse | 'India must aim for self-reliance in critical sectors': Sanjeev Sanyal on changing world order

Speaking on WION World Pulse summit on Wednesday (Mar 18), the German ambassador to India, Philipp Ackermann expressed deep concern over the ongoing West Asia war, warning of its broader economic and humanitarian consequences. “We are deeply concerned. The war is preventing growth in the way it should, and we hope it comes to an end sooner rather than later,” he said. He noted that multiple countries are bearing the fallout, adding, “Many countries are suffering, including Lebanon, Kuwait and Saudi Arabia, making the situation increasingly dire and concerning.”&nbsp;<h2>Europe’s united stance and refusal to join West Asia conflict</h2>Responding to questions on whether Germany would shoulder greater global responsibility and take on the “heavy lifting” amid the evolving global crisis, the ambassador emphasised European unity. “Most important is that Europe stands united in this difficult situation,” he said, noting that Germany alone cannot carry the burden, given that it is roughly the size of Tamil Nadu. He highlighted the European Union’s collective strength, adding that “with its 450 million inhabitants, it is for us a wonderful vehicle to make our voice heard.”He reiterated Europe’s clear position concerning the request of US President Trump, on the West Asia conflict, saying, “We have said very clearly that’s not our war, and we will not participate in this. That is our voice of unity.”&nbsp;&nbsp;

<blockquote class="twitter-tweet">Identify the pulse of a fast-changing world. <a href="https://twitter.com/hashtag/WIONWorldPulse?src=hash&amp;ref_src=twsrc%5Etfw">#WIONWorldPulse</a> turns global developments into compelling conversations about the road ahead. Watch leaders, global decision-makers, strategists and policymakers all under one roof.<a href="https://twitter.com/hashtag/RhythmOfTheNewWorldOrder?src=hash&amp;ref_src=twsrc%5Etfw">#RhythmOfTheNewWorldOrder</a> <a href="https://t.co/okgBUyxSpa">https://t.co/okgBUyxSpa</a>&mdash; WION (@WIONews) <a href="https://twitter.com/WIONews/status/2034131673655480398?ref_src=twsrc%5Etfw">March 18, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>Balancing global crises and diplomatic priorities</h2>Talking about the Russia-Ukraine conflict, he noted, “Every day hundreds of soldiers and civilians die,” warning that shifting attention risks neglecting urgent crises. Stressing the need for focus, he said the international community must avoid being overburdened and instead “concentrate on those areas where things have to be solved,” highlighting the importance of sustained diplomatic engagement.<h2>India-Europe ties and the FTA opportunity</h2>On India-Europe relations, the ambassador struck an optimistic note, calling the partnership “a positive story.”&nbsp;He described the proposed free trade agreement as “a huge step in the right direction,” benefiting both sides equally.&nbsp;“It shows that free trade leads us, in a tailor-made way, towards more prosperity,” he said, concluding that India remains “a fabulous partner for the EU and Germany.”&nbsp;Also read: <a href="https://www.wionews.com/india-news/wion-world-pulse-india-s-ancient-wisdom-is-the-most-relevant-in-today-s-world-culture-minister-gajendra-singh-shekhawat-1773813587526">WION World Pulse | India's ancient wisdom is the most relevant in today's world: Culture Minister Gajendra Singh Shekhawat</a>&nbsp;WION World Pulse brought together a cross-section of policymakers, diplomats and industry leaders at a time of heightened global uncertainty. The global thought leadership forum came at a time when globally the lines between geopolitics, economics and technology are increasingly blurred.The dynamic event began with a keynote address by Dr Subhash Chandra, Founder and Mentor of Zee Group and Former Rajya Sabha member. Addressing the diverse audience, Dr Chandra noted that "we are in an era of information overload" and in times like these, "diplomacy needs credible global platforms like WION".

Philipp Ackermann noted that multiple countries are bearing the war fallout, saying they are suffering, including Lebanon, Kuwait and Saudi Arabia, making the situation increasingly dire and concerning

Speaking on WION World Pulse summit on Wednesday (Mar 18), the German ambassador to India, Philipp Ackermann expressed deep concern over the ongoing West Asia war, warning of its broader economic and humanitarian consequences. “We are deeply concerned. The war is preventing growth in the way it should, and we hope it comes to an end sooner rather than later,” he said. He noted that multiple countries are bearing the fallout, adding, “Many countries are suffering, including Lebanon, Kuwait and Saudi Arabia, making the situation increasingly dire and concerning.” Europe’s united stance and refusal to join West Asia conflict Responding to questions on whether Germany would shoulder greater global responsibility and take on the “heavy lifting” amid the evolving global crisis, the ambassador emphasised European unity. “Most important is that Europe stands united in this difficult situation,” he said, noting that Germany alone cannot carry the burden, given that it is roughly the size of Tamil Nadu. He highlighted the European Union’s collective strength, adding that “with its 450 million inhabitants, it is for us a wonderful vehicle to make our voice heard.” He reiterated Europe’s clear position concerning the request of US President Trump, on the West Asia conflict, saying, “We have said very clearly that’s not our war, and we will not participate in this. That is our voice of unity.”

Philipp Ackermann noted that multiple countries are bearing the war fallout, saying they are suffering, including Lebanon, Kuwait and Saudi Arabia, making the situation increasingly dire and concerning

'Not our war': Germany emphasises EU unity on West Asia conflict, says Ambassador Philipp Ackermann at WION World Pulse

India's National Stock Exchange (NSE) MD &amp; CEO Ashishkumar Chauhan, speaking at WION’s World Pulse summit, said on Wednesday (Mar 18) that the nature of capitalism has undergone a significant transformation, allowing businesses to scale without the traditional requirement of large capital or strong balance sheets. Responding to a question at the panel disussion ‘Economy Pulse’, he said, Chauhan highlighted how technological advancements have reshaped entrepreneurship over the decades.Chauhan said, "I watch businesses go up, raising funds over the last 35 years. In the early days, 50-100 years back, you required a lot of money to make more money that's what is called capitalism. In the early 90s, people began experimenting with new styles of businesses which were IT-driven after the advancement of new technology. Some came to start businesses with their engineering degree and began making 100-200 billion dollars in the last 30 years."<h3>Capitalism doesn't require capital: Ashishkumar Chauhan</h3>He further emphasised that modern-day capitalism is less dependent on capital and more driven by ideas and innovation. "Earlier capitalism required capital, but today capitalism doesn't require capital. That's why, without a balance sheet, you can create businesses. When Infosys came in 1993 with its IPO, it failed because nobody knew how the IT business would work. Recently, Zomato, Swiggy, and many others came out of nowhere with no money at all, and they started with very small, without capital, without a balance sheet, and they became 10-20-50 billion dollar companies. And I have seen this in every sector. That's why, for me, modern India with modern technology allows you to create very large-scale businesses. If you preserve your ideas, NSE will raise money for you," he added.<h3>WION World Pulse</h3>On Wednesday (Mar 18), WION World PULSE came together with the policymakers, diplomats and industry leaders from different sectors at a time of heightened global uncertainty. The global thought leadership forum came at a time when globally the lines between geopolitics, economics and technology are increasingly blurred.&nbsp;The dynamic event began with a keynote address by Dr Subhash Chandra, Founder and Mentor of Zee Group and Former Rajya Sabha member. Addressing the diverse audience, Dr Chandra noted that "we are in an era of information overload" and in times like these, "diplomacy needs credible global platforms like WION".&nbsp;Also read: <a href="https://www.wionews.com/india-news/wion-world-pulse-india-s-ancient-wisdom-is-the-most-relevant-in-today-s-world-culture-minister-gajendra-singh-shekhawat-1773813587526">WION World Pulse | India's ancient wisdom is the most relevant in today's world: Culture Minister Gajendra Singh Shekhawat</a> &nbsp;

National Stock Exchange (NSE) MD & CEO Ashishkumar Chauhan emphasised that modern-day capitalism is less dependent on capital and more driven by ideas and innovation, as companies like Zomato and Swiggy came out with no money but became 10-20-50 billion dollar companies. 

India's National Stock Exchange (NSE) MD & CEO Ashishkumar Chauhan, speaking at WION’s World Pulse summit, said on Wednesday (Mar 18) that the nature of capitalism has undergone a significant transformation, allowing businesses to scale without the traditional requirement of large capital or strong balance sheets. Responding to a question at the panel disussion ‘Economy Pulse’, he said, Chauhan highlighted how technological advancements have reshaped entrepreneurship over the decades. Chauhan said, "I watch businesses go up, raising funds over the last 35 years. In the early days, 50-100 years back, you required a lot of money to make more money that's what is called capitalism. In the early 90s, people began experimenting with new styles of businesses which were IT-driven after the advancement of new technology. Some came to start businesses with their engineering degree and began making 100-200 billion dollars in the last 30 years." Capitalism doesn't require capital: Ashishkumar Chauhan He further emphasised that modern-day capitalism is less dependent on capital and more driven by ideas and innovation. "Earlier capitalism required capital, but today capitalism doesn't require capital. That's why, without a balance sheet, you can create businesses. When Infosys came in 1993 with its IPO, it failed because nobody knew how the IT business would work. Recently, Zomato, Swiggy, and many others came out of nowhere with no money at all, and they started with very small, without capital, without a balance sheet, and they became 10-20-50 billion dollar companies. And I have seen this in every sector. That's why, for me, modern India with modern technology allows you to create very large-scale businesses. If you preserve your ideas, NSE will raise money for you," he added. WION World Pulse On Wednesday (Mar 18), WION World PULSE came together with the policymakers, diplomats and industry leaders from different sectors at a time of heightened global uncertainty. The global thought leadership forum came at a time when globally the lines between geopolitics, economics and technology are increasingly blurred. The dynamic event began with a keynote address by Dr Subhash Chandra, Founder and Mentor of Zee Group and Former Rajya Sabha member. Addressing the diverse audience, Dr Chandra noted that "we are in an era of information overload" and in times like these, "diplomacy needs credible global platforms like WION". Also read: WION World Pulse | India's ancient wisdom is the most relevant in today's world: Culture Minister Gajendra Singh Shekhawat

National Stock Exchange (NSE) MD &amp; CEO Ashishkumar Chauhan emphasised that modern-day capitalism is less dependent on capital and more driven by ideas and innovation, as companies like Zomato and Swiggy came out with no money but became 10-20-50 billion dollar companies.&nbsp;

'Businesses can be built without balance sheet': NSE MD and CEO Ashishkumar Chauhan at WION World Pulse summit

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WION World Pulse | 'India must aim for self-reliance in critical sectors': Sanjeev Sanyal on changing world order

'Not our war': German Ambassador on West Asia conflict at WION World Pulse

Businesses can be built without balance sheet: NSE MD & CEO at WION World Pulse